Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1887-12-20

SNS SSHtttSht"
Bushrod C. Washington, writing
from Charlestown, to the New York
Real Estate Bulletin, says:
While the current year has wit
messed unusual activity in the real
estate markets of the country, and in
many localities throughout the west
and south values have enhanced
from normal and genuine causes, yet
there can be no doubt that large
part of the " booming" has been ar
tificial and speculative, and manip-
ulated much after the manner of bull
ing stocks Heavy drafts have been
made upon future development, most
of which will come too late, fear, to
save the too credulOus investor.
West Virginia. however, stands out
a marked exception. This State has
experienced no artificial boom, nor
real estate craze, but level-headed
capitalists and practical operators
from the east and northwest, from
Canada and Europe, have.been quiet1
ly placing their money I" where it will
do the most good" to-wit (: in the
timber and mineral lands of West
Virginia. Thus frompurefy intrinssfic
causes, from the vastness of her Wis
ible and tangible resources, values
have been steadily advancing all along
the line of the timber and mineral
districts in manner to inspire con-
fidence in the present and to insure
the future.
Money judiciously invested in these
properties must perforce of inevita-
BILE natural conditions yield large
profits and comparatively quick re-
turns.
West Virginia needs railroads, the
theory of Mr.. Chauncey NJ. Depew to
the contrary, Notwithstanding. He
may be right, that there has been
over-construction of competitive lines
across the continent, but a glance at
the map will show an area in West
Virginia lying between the lines of
the Baltimore & Ohio, the Chesapeake
& Ohio and the Norfolk & Western
railroads, equal in size to the States
of Delaware and New Jersey, without
n railroad in it. This area comprises
one-fourth of the Great Appalachian
coal field, Astounding in all varieties
of coal except anthracite, besides
other valuable minerals, magnificent
farming and grazing lands, and con-
tanning nine million acres of virgin
forests of the best hard woods on this
continent. There are many enter
prises recently organized for river
improvement and railroad construc-
tion, and the actual railroad construc-
tion during the year has been very
considerable. Still the demand for
timber and mineral lands accessible
to railroads from practical operators
for immediate use is in excess of the
supply. This demand insures the
construction of railroads along the
level of nearly all the rivers in the
mineral and timber districts during
the next two years. The cost of con-
structiOn along these water levels is
estimated at SIS, 900 to $50, 900 per
mile, and as the railroads in this
State must necessarily follow the
water courses between the mountain
ranges, they viii never be liable to
suffer from Improbable competition.
The Kanawha coal fields shipping all
the coal and coke for which transpor-
tation can he supplied, and the pro-
duction of coke this year will proba-
bly, double that of any previous out
put, still leaving the supply behind
the demand.
The interstate commerce law has
unquestionabIy worked well in this
state, and has given it to some ex-
tent, the benefit of its central loca-
ton.
While, as I have said, no real es-
tate craze has headed this way, yet
big money is being made In land
transactions. values moving steadily
upward, and no danger that the q last
man" will be caught with unprofta-
BILE stock in hand